Recommendations for loan servicing Co.?

I’m getting ready to do my first Seller Financing deal. I am the seller and I am almost certain I will eventually need to foreclose on these buyers. I am looking for a loan servicing company. I want to take the personal aspect out of the equation. They have been my tenants for a year now. Anyway, I’m in Austin, TX if anyone has any ideas on what the fees might be, I would appreciate it.

If you are so sure you will have to forclose, why would you carry the financing for them? I know of a loan broker in TX but haven’t dealt with them yet. It is Lone Star Brokerage and the guy’s name is Rick Guiterez(I think the spelling is right). I don’t have contact info with me at the moment but I can get it later or you can search for the website. I was told they can get loans for people with low credit scores, that’s why I know of them. Good Luck.


P.S. I have know idea about their fees, sorry.

Thanks for the name…I’llgive them a call. To answer your question- it’s a unique situation. The buyers have been good to me. They helped me track down the owners and buy the house (and they even testified in probate court). I want to be fair and give them a chance, but I know this is business also. That’s why I’m offering them a very fair deal, but it’s a one shot deal. Having said that, you see why I want a loan servicing company, so that if they are late on payments, my name is out of it and they are on their own. Plus they are “handy” and they have taken good care of the house so if I do have to foreclose I may get an even better house than I have now.
We’ll see…


A typical monthly fee for collection is $10-15. Set up and termination charges are all over the board. They do not foreclose. Foreclosure Trustees of Texas there in Austin will do a foreclosure in the $400 range if you are in Texas.